Question

In light of the Bored Ape Yacht Club's introduction of Staking, provide an analysis on the token and project.

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Provide data on APE token distribution in March 2022 and show how the activity has evolved since. Share analysis on future emissions schedule. \n

How have the first hours of APE staking been? How do the staking rewards for each pool compare? Provide any relevant data.

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Methodology:

• Various tables were used to create this dashboard ranging from the ethereum.core.fact_prices_hourly to the transfers table and the events log to get access to the stats on $APE and it’s pools
• Only numerical stats has been referred from alik10 while the rest of the dashboard mainly displays self-work
• APE Coin Contract Address: 0x4d224452801ACEd8B2F0aebE155379bb5D594381
• $APE Coin Airdrop Distributor Contract Address: 0x025C6da5BD0e6A5dd1350fda9e3B6a614B205a1F
  • Origin Function Signature for Claiming Airdroped $APEs: 0x48c54b9d
• $APE Coin Staking Contract Address: 0x5954aB967Bc958940b7EB73ee84797Dc8a2AFbb9
  • There are 4 staking pools for $APE:
    • $APE Coin Only Origin Function Signature: 0x9dcaafb4
    • BAYC Origin Function Signature: 0x46583a05
    • MAYC Origin Function Signature: 0x8ecbffa7
    • BAKC Origin Function Signature: 0xd346cbd9

$APE Launch & Initial Token Distribution

APE has a fixed issuance of 1 billion tokens, with initial allocations broken down as follows: 62% of total allocations were made to the ApeCoin Ecosystem. Out of this, BAYC/MAYC NFT holders were airdropped 15% of the tokens while 47% were reserved for ApeDAO treasury and resources. For airdrop specifics: Bored Ape Holder received 10,094 tokens while Mutant Ape Holders received 2,042 tokens. 10,950 tokens were issued for each Bored Ape + Kennel Club pair, and 2,898 were issued for each Mutant Ape + Kennel Club pair. The remainder of the tokens is split between Yuga Labs (10%), Charity (Jane Goodall Institute) (6%), launch contributors (14%), and BAYC founders (8%). At launch, roughly 26% of the total token supply was unlocked. The remainder of the tokens is unlocked over 48 months. An average of 1.5% of the supply becomes unlocked every month.

Out of the 1 billion ApeCoin tokens issued at launch, the supply schedule is specified as follows:

• The 150000000 tokens airdropped to BAYC/MAYC NFT holders were all unlocked immediately.
• 470,000,000 tokens to DAO treasury and resources (117,500,000 unlocked at launch, then 7,343,750 unlocked per month for 48 months)
• 150,000,000 tokens to Yuga Labs (Initial lock-up of 12 months, then 4,166,666.67 unlocked per month for 36 months)
• 10,000,000 tokens to the Jane Goodall Legacy Foundation (Initial lock-up of 12 months, then 277,777.78 tokens unlocked per month for 36 months)
• 80,000,000 tokens to founders of Yuga Labs (Initial lock-up for 12 months, then 2,222,222.22 unlocked per month for 36 months)
• 140,000,000 tokens were issued to launch contributors, though the Lockup schedules vary by contributor

One can read more here

Introduction:

$APE is an Ethereum token with a total supply of 1 billion. Initially, 62% of the total supply of ApeCoin is allocated to the ApeCoin community, with a portion claimable by BAYC (Bored Ape Yacht Club) NFT holders.

ApeCoin is billed as a “token for culture, gaming, and commerce used to empower a decentralized community building at the forefront of web3.

First and foremost, it’s important to note the new players in the BAYC ecosystem. The newly founded ApeCoinDAO is the creator behind the launch of ApeCoin, not Yuga Labs or the Bored Ape Yacht Club. ApeCoinDAO exists to give $APE token holders a vote on fund allocations, governance rules, projects, partnerships, and beyond. Holding ApeCoin is the only requirement for membership in the ApeCoinDAO.

The ApeCoinDAO is also supported by the Ape Foundation. The Ape Foundation is not the overseer of ApeCoin, but more of the steward of $APE. The foundation will act as the base layer upon which ApeCoin holders in the ApeCoinDAO can build.

The Ape Foundation will utilize the Ecosystem Fund, which is controlled by a multisig wallet. This fund will be used to pay expenses as directed by the ApeCoinDAO and provides an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.

Finally, a special council on the Ape Foundation (the Board) will provide oversight of the Foundation administrators. The purpose of the Board is to administer DAO proposals and serve the vision of the community. It meets on proposals requiring administrative review under ApeCoinDAO rules.

The initial Board will serve for a term of six months, after which the ApeCoinDAO will vote on new members annually. Currently, the council consists of Alexis Ohanian (co-founder of Reddit, general partner and founder of Seven Seven Six), Amy Wu (head of ventures & gaming at FTX), Maaria Bajwa (principal at Sound Ventures), Yat Siu (co-founder and executive chairman of Animoca Brands), and Dean Steinbeck (president and general counsel at Horizen Labs).

$APE Coin Airdrop

On March 17, at 8:30 a.m. ET, 15% of the total supply of $APE coins has been available to those who owned an original Bored Ape or a Mutant Ape NFT. Holders of Bored Ape Kennel Club Dogs will need to own either an Ape or Mutant to participate.

One can read more about the content shown above from here .

Explanation & Insights:

• With more than 96% turnout, the $APE airdrop had a very successful market interaction with most of the claims being made in early March while very few being late enough to claim the drops the'y’re eligible for
• The distribution of the airdrop is fair as well as the top 10 holders hold only 5% of the total airdrop
• Most of them received the drop in the 1k-3k $APE Category while the 10k-30k$ category has the most $APE by distribution
• In all about 1B$ worth of tokens have been claimed since the airdrop
• On an average about each user received 8.78k $APE which is about 25k$ even at today’s prices while it was as high as 100k$ at it’s peak

NUMERICAL STATS FOR APE AIRDROP AND ITS SUPPLY

DAILY AIRDROP CLAIM STATS

Explanation & Insights:

• Of the total 1M+ transfers made, only 16k of them were for airdrop claims
• Of the 45B$+ volume only 1B$ of them was for claiming the $APE airdrop
• Most of the users (71%) hold about 3x more tokens than what they got from the airdrop
• The next segment belongs to about 17% of the users who have sold almost 3/4th of their total airdrop amount they had received

Daily Transfers (Including the Airdrop Transfers):

Staking Stats

Explanation & Insights:

• For staking, the most volume was seen in the $BAYC only pool followed by $APE only Pool , $MAYC pool and $BAKC Pool

• By staking transactions, $APE only leads and is followed by MAYC, BAYC and BAKC

• The net transactions & volume has been on a down since inception

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Conclusions:

• The price, token volume, transfers all have been on a decline in the past 6 months and it seems there’s no sign of recovery currently as the values keep on declining
• With more than 96% turnout, the $APE airdrop had a very successful market interaction with most of the claims being made in early March while very few being late enough to claim the drops the'y’re eligible for
• The distribution of the airdrop is fair as well as the top 10 holders hold only 5% of the total airdrop
• Most of them received the drop in the 1k-3k $APE Category while the 10k-30k$ category has the most $APE by distribution
• In all about 1B$ worth of tokens have been claimed since the airdrop
• On an average about each user received 8.78k $APE which is about 25k$ even at today’s prices while it was as high as 100k$ at it’s peak
• Of the total 1M+ transfers made, only 16k of them were for airdrop claims
• Of the 45B$+ volume only 1B$ of them was for claiming the $APE airdrop
• Most of the users (71%) hold about 3x more tokens than what they got from the airdrop
• The next segment belongs to about 17% of the users who have sold almost 3/4th of their total airdrop amount they had received
• For staking, the most volume was seen in the $BAYC only pool followed by $APE only Pool , $MAYC pool and $BAKC Pool
• By staking transactions, $APE only leads and is followed by MAYC, BAYC and BAKC
• The net transactions & volume has been on a down since inception